The Best Fund Administration Software in 2026
We researched fund administration software from official websites, including pricing pages, plan tables, and product documentation. Products are ranked on the category’s core job, value for money, and verified features for investor records, capital accounts, allocations, NAV workflows, and reporting.
Our top picks
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Top ranked
Perfona#1 of 309.4/10A broad fund administration system with transparent starting prices and a 14-day trial.
14-day trial
-
Runner-up
Keel#2 of 309.3/10A broad fund administration platform with a free plan and paid tiers for scaling managers.
Free plan · 30-day trial
-
Lowest paid price in the top 10
aama.io#5 of 309.0/10A mobile-first platform covering fund accounting, investor workflows, NAV, and SPV administration.
Advertiser disclosure: iTechGuides is reader-supported. Vendors can pay for top positions in our rankings and for a place on other products' pages, and we may earn a commission when you click some links. Bought places stand at the number bought; this page and our disclosure say so. Paying vendors may get a fuller, more detailed review from our editors, and that review can change their score. How we rank.
The full ranking 30 tools, best first
-
Best forFunds wanting transparent starting pricing
A broad fund administration system with transparent starting prices and a 14-day trial.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.4/10★★★★★Visit Perfona -
Best forFunds prioritizing a free starting plan
A broad fund administration platform with a free plan and paid tiers for scaling managers.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.3/10★★★★★Visit Keel -
Best forFull-service fund administration teams
A broad fund-operations platform for teams managing complex investor and accounting workflows.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.2/10★★★★★Visit Ashta.ai -
Best forEstablished funds needing administrator support
A fund administration suite combining accounting, investor workflows, analytics, and administrator support.
- Allocation waterfalls
- Investor portal
- Capital account tracking
9.1/10★★★★★Visit Carta -
Best forMobile-first fund managers and administrators
A mobile-first platform covering fund accounting, investor workflows, NAV, and SPV administration.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.0/10★★★★☆Visit aama.io -
Best forComplex multi-level fund operations
A broad operating layer for complex fund structures, accounting, workflows and reporting.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.9/10★★★★☆Visit Sciforn -
Best forFunds needing integrated accounting and NAV
An integrated platform for fund accounting, NAV, investor workflows and back-office administration.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.8/10★★★★☆Visit Formidium -
Best forFunds with up to 100 investors
A broad fund-operations platform for teams managing up to 100 investors.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.7/10★★★★☆Visit Fundwave -
Best forFunds needing broad accounting integrations
A broad private-equity administration platform with accounting integrations and sales-led pricing.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.6/10★★★★☆Visit site -
Best forFunds needing reconciliation and liquidity analysis
Configurable fund-operations software for NAV, reconciliation, liquidity, and investor workflows.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.5/10★★★★☆Visit fundflow -
Best forAustralian fund and trust structures
A broad web platform for Australian and New Zealand fund operations.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.4/10★★★★☆Visit Ventari -
Best forComplex multi-entity fund structures
Fund administration for complex structures, allocations, reporting, and investor workflows.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.3/10★★★★☆Visit Entrilia -
Best forFunds wanting configurable reporting
A configurable platform for fund accounting, investor workflows, reporting, and capital operations.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.2/10★★★★☆Visit Ark -
Best forFunds needing formation through administration
A broad fund administration platform with self-serve, assisted, and managed operating models.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.1/10★★★★☆Visit Caproom -
Best forInternational investor operations
A broad administration platform for international private-fund investor operations.
- NAV workflows
- Investor portal
- Capital account tracking
8.0/10★★★★☆Visit Basis -
Best forSmaller multi-entity funds
A broad fund-operations platform for smaller multi-entity funds with up to 50 investors.
- NAV workflows
- Allocation waterfalls
- Investor portal
7.9/10★★★★☆Visit PoliBit -
Best forVenture funds needing LP reporting
A focused platform for venture fund operations, LP reporting, and portfolio tracking.
- NAV workflows
- Allocation waterfalls
- Investor portal
7.8/10★★★★☆Visit VCF.co -
Best forFunds wanting administration support
A broad fund administration platform combining investor workflows, accounting, treasury, and compliance.
- NAV workflows
- Investor portal
- Capital account tracking
7.7/10★★★★☆Visit bunch -
Best forFunds prioritizing screening and AI queries
A focused web platform for screening, investor operations and AI-assisted fund queries.
- Allocation waterfalls
- Investor portal
- Capital account tracking
7.6/10★★★★☆Visit Beonflow -
Best forFunds needing mature payment workflows
Fundy brings calculations, payments, controls, reporting, and accounting integrations into one web platform.
- NAV workflows
- Allocation waterfalls
- Capital account tracking
7.5/10★★★★☆Visit Fundy -
Best forFunds wanting LP-ready reporting
A broad fund administration platform for LP reporting, accounting, and workflows.
- NAV workflows
- Allocation waterfalls
- Investor portal
7.4/10★★★★☆Visit Valence -
Best forCompliance-heavy fund administrators
A Salesforce-based administration layer for compliance-heavy fund operations.
- NAV workflows
- Capital call workflows
7.3/10★★★★☆Visit AdminSphere -
Best forDigital onboarding and subscription workflows
A strong fit for digitizing private-fund onboarding, servicing, and investor workflows.
- Investor portal
- Capital account tracking
- Capital call workflows
7.2/10★★★★☆Visit Goji -
Best forVery small funds wanting bundled administration
A broad administration package for very small funds that want managed operational coverage.
- NAV workflows
- Allocation waterfalls
- Investor portal
7.1/10★★★★☆Visit Infra One -
Best forSmaller funds wanting broad integrations
A broad fund-operations platform for smaller funds that need investor workflows and integrations.
- Allocation waterfalls
- Investor portal
- Capital account tracking
7.0/10★★★★☆Visit Archstone -
Best forAdvisors consolidating private investments
A private-markets platform for consolidating reporting, documents, onboarding, and investor workflows.
6.9/10★★★☆☆Visit Allocate -
Best forFundraising and LP relationship teams
A CRM-led platform for fundraising, LP records, communications, and investor reporting.
6.8/10★★★☆☆Visit Juniper Square -
Best forAlternative-investment portfolio teams
A broad portfolio-management platform for alternative-investment teams, with sales-led pricing.
6.7/10★★★☆☆Visit Allvue -
Best forInvestment teams needing CRM and deal workflows
A configurable CRM and deal platform for investment relationship workflows.
6.6/10★★★☆☆Visit Dynamo -
Best forTeams modeling cap tables and waterfalls
A focused modeling tool for cap tables, dilution scenarios, and exit waterfalls.
6.5/10★★★☆☆Visit Hemrock
No tools match those filters.
Compare at a glance
| # | Tool | Free plan | Paid from | Investor portal | Capital account tracking | NAV workflows | Allocation waterfalls | Capital call workflows | Score |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Perfona | No | $500/mo | Yes | Yes | Yes | Yes | Yes | 9.4 |
| 2 | Keel | Yes | $3,500/mo | Yes | Yes | Yes | Yes | Yes | 9.3 |
| 3 | Ashta.ai | No | Yes | Yes | Yes | Yes | Yes | 9.2 | |
| 4 | Carta Fund Management | No | Yes | Yes | Yes | Yes | 9.1 | ||
| 5 | aama.io | No | $625/mo | Yes | Yes | Yes | Yes | Yes | 9.0 |
| 6 | Selene | Yes | Yes | Yes | Yes | Yes | 8.9 | ||
| 7 | Formidium | Yes | Yes | Yes | Yes | Yes | 8.8 | ||
| 8 | Fundwave | $800/mo | Yes | Yes | Yes | Yes | Yes | 8.7 | |
| 9 | Relevant EquityWorks | No | Yes | Yes | Yes | Yes | Yes | 8.6 | |
| 10 | fundflow | Yes | Yes | Yes | Yes | Yes | 8.5 | ||
| 11 | Ventari | Yes | Yes | Yes | Yes | 8.4 | |||
| 12 | Entrilia | Yes | Yes | Yes | Yes | 8.3 | |||
| 13 | Ark | Yes | Yes | Yes | Yes | 8.2 | |||
| 14 | Caproom | No | Yes | Yes | Yes | Yes | Yes | 8.1 | |
| 15 | Basis | Yes | Yes | Yes | Yes | 8.0 | |||
| 16 | PoliBit | No | Yes | Yes | Yes | Yes | Yes | 7.9 | |
| 17 | VCF.co | No | Yes | Yes | Yes | Yes | Yes | 7.8 | |
| 18 | bunch | No | Yes | Yes | Yes | Yes | 7.7 | ||
| 19 | Beonflow | No | Yes | Yes | Yes | Yes | 7.6 | ||
| 20 | Fundy | No | Yes | Yes | Yes | Yes | 7.5 | ||
| 21 | Valence | Yes | Yes | Yes | Yes | Yes | 7.4 | ||
| 22 | AdminSphere | Yes | Yes | 7.3 | |||||
| 23 | Goji | Yes | Yes | Yes | 7.2 | ||||
| 24 | Infra One | No | $3,500/yr | Yes | Yes | Yes | Yes | Yes | 7.1 |
| 25 | Archstone | No | $297/mo | Yes | Yes | Yes | Yes | 7.0 | |
| 26 | Allocate | 6.9 | |||||||
| 27 | Juniper Square | 6.8 | |||||||
| 28 | Allvue Investment Management | 6.7 | |||||||
| 29 | Dynamo CRM & Deal Management | 6.6 | |||||||
| 30 | Hemrock | Yes | 6.5 |
Head-to-head All 28 comparisons →
- Perfona vs Keel
- Perfona vs Ashta.ai
- Perfona vs Carta Fund Management
- Perfona vs aama.io
- Perfona vs Selene
- Perfona vs Formidium
- Perfona vs Fundwave
- Keel vs Ashta.ai
- Keel vs Carta Fund Management
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How we rank fund administration software
Every tool on this page was researched by iTechGuides Editors from its official website — pricing pages, plan tables and product documentation. We rank on how well each one does this category's core job, what the free or entry plan includes, and where it falls short. Where we have enough verified facts, the score out of 10 is a rubric — job fit, value and how much we could verify — shown with its breakdown on every tool's page; a tool we have not verified enough to score yet shows its rank without a number. Scores are re-checked when a product changes its plans. Read the full editorial policy, or submit a tool we missed.
Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
Last updated · How we research and update